Philippines: investment grade but could do better

When Benigno “Ninoy” Aquino III hands administration of the Philippines to a new president in May next year he will be leaving behind an economy in good shape. Since assuming the presidency in 2010 the populist leader has guided the country to greater prosperity by eschewing the privileges of office and rejecting corruption.

According to World Bank and World Economic Forum rankings, the Philippines is now more transparent, more competitive, and more business friendly than...